The Trade Union Congress (TUC) has proposed a “production subsidy” for the Dangote Refinery and other modular refineries as a measure to bring down the price of Premium Motor Spirit (PMS), commonly known as petrol.
The labour union believes that providing production subsidies to local refineries will significantly reduce the cost of petrol in the country by lowering the overall production expenses passed on to consumers.
TUC President, Festus Osifo, who made the proposal, argued that subsidising production at the refinery level would be more effective and sustainable than the previous subsidy regime on imported petroleum products.
The suggestion comes amid ongoing concerns over high petrol prices, which continue to exert pressure on businesses and the cost of living for Nigerians despite the commencement of operations at the Dangote Refinery.
The TUC is expected to engage the federal government on the proposal as part of efforts to find lasting solutions to Nigeria’s fuel pricing challenges.
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